Blackberry concludes restructuring process

Mobile phone maker BlackBerry has concluded its restructuring process, according to an internal memo circulated to its employees.

The memo, seen by Reuters, said that redundancies layoffs, asset sales and the introduction of a new business direction had all been completed. The Canada-based firm has laid off around 60% of its workforce since 2011.

'We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us,' wrote John Chen, CEO of Blackberry, in the memo that was viewed by the news agency.

He continued, 'More importantly, barring any unexpected downturns in the market, we will be adding headcount in certain areas such as product development, sales and customer service, beginning in modest numbers.'

Chen wrote that there was 'no margin for error' to complete BlackBerry's turnaround.

He believes the company is now on its way to recovery and expressed confidence in Blackberry generating a profit by the end of the fiscal year.

Chen added that the company is now in a position to make strategic acquisitions.